topic Re: Direct deposit in Selling

Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:15:37 GMT

Hi everyone, yesterday I deposited money into a company's bank account. The bank" they" use is Westpac, not my bank. Today they say the money hasn't cleared yet. How can that be,when the money has gone directly into their account and their bank?
Any answers would be appreciated. .Thankyou

Re: Direct deposit

lyndal1838 — Fri, 03 Feb 2017 04:18:17 GMT

DId you physicallly deposit the cash over the counter or was it an internet transfer?

If it was an internet transfer it can take a few days to clear. If cash over the counter it should show immediately.

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:20:05 GMT

Hi, it was cash over the counter.

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:22:17 GMT

However, I am in Melbourne, they (the company ) are in Sydney? ? ?

Re: Direct deposit

padi*0409 — Fri, 03 Feb 2017 04:23:33 GMT

I do hope you realise that you have no buyer protection at all by paying with bank deposit.

Re: Direct deposit

lyndal1838 — Fri, 03 Feb 2017 04:28:37 GMT

@falcongtho19685 wrote:
However, I am in Melbourne, they (the company ) are in Sydney? ? ?

It makes no difference at all where the company is or what branch of the bank you deposit into.

Unfortunately you may have just found out the hard way that there are dishonest sellers on ebay and you have no buyer protection.

Have you rechecked that the deposit was made to the correct account number and name. Just one digit out and the money will not go to the correct account. Check the details on the receipt very carefully.

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:29:18 GMT

Mmmmmm, I have the receipt from the bank. I don't think there are going to be any problems . If it does turn out negative, Office of Fair Trading or the likes,will be mentioned to the company. As well as some negative reviews.

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:33:08 GMT

Everything numbers wise is correct.
I'll wait and see what happens.
Thankyou for replies.

Re: Direct deposit

tentrees123 — Fri, 03 Feb 2017 04:38:11 GMT

Hopefully you were able to put a reference on the transaction with the bank? Don't loose that bank receipt!!

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:46:18 GMT

I did, and I will not.

Re: Direct deposit

performance_parts_clearance_centre — Fri, 03 Feb 2017 04:51:59 GMT

I'd probably wait another day or two - not at all unusual for counter deposits to take a couple of days to show up in the recipient's account (happened to me more than once!).

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 04:53:10 GMT

Okay. Thanks

Re: Direct deposit

padi*0409 — Fri, 03 Feb 2017 04:54:24 GMT

@falcongtho19685 wrote:
Mmmmmm, I have the receipt from the bank. I don't think there are going to be any problems . If it does turn out negative, Office of Fair Trading or the likes,will be mentioned to the company. As well as some negative reviews.

Numerous members have come to the boards after paying by bank deposit and then having problems with the seller, hopefully your seller is honest, but many aren't, and in a lot of cases the buyers have lost their money.

I hope there's not too much money involved with this, but I would very strongly urge you to use Paypal in the future to avoid any problems.

Re: Direct deposit

falcongtho19685 — Fri, 03 Feb 2017 05:10:54 GMT

Hi everyone, you wont believe it, but just received confirmation my payment has been processed. Fewwww. Still can't understand why the payment didn't -doesn't show up straight away. Anyway.
Thanks everyone. ..

Re: Direct deposit

twyngwyn — Fri, 03 Feb 2017 05:44:50 GMT

ex-banker here: sometimes the banks 'hold on to the funds'...usually notorious on weekends in my experience

Re: Direct deposit

lyndal1838 — Fri, 03 Feb 2017 06:40:37 GMT

Most banks don't do transaction runs over the weekend.

I know if I transfer funds on a weekday before 5.30pm they are usually received next day but if I do it on Saturday or Sunday it does not transfer till Monday night, so received Tuesday.

The only exception is between my St George accounts and Westpac accounts...they transfer every day even weekends.

Re: Direct deposit

*bellee* — Fri, 03 Feb 2017 10:15:41 GMT

From my experience, I've noticed sometimes the balance goes up, but information about where the money came from doesn't appear until perhaps the next day.